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Report No. : |
354958 |
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Report Date : |
19.12.2015 |
IDENTIFICATION DETAILS
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Name : |
DIACORE INTERNATIONAL LTD |
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Registered Office : |
C/O Blue Rock Advisors Sa Voie-Des-Traz 20 Case
Postale 106 1215 Genève/Ge |
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Country : |
Switzerland |
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Date of Incorporation : |
Not Available |
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Legal Form : |
Branch of foreign company |
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LINE OF BUSINESS : |
SUBJECT
IS A MULTINATIONAL COMPANY WITH INTEREST RANGING
FROM MANUFACTURING TO RETAIL OF DIAMONDS. SPECIALISING IN THE CREATION OF
LARGE, FANCY COLOURED AND RARE STONES. |
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No. of Employee : |
1-9 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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Status : |
Branch of foreign company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Switzerland |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
SWITZERLAND ECONOMIC OVERVIEW
Switzerland
is a peaceful, prosperous, and modern market economy with low unemployment, a highly
skilled labor force, and a per capita GDP among the highest in the world.
Switzerland's economy benefits from a highly developed service sector, led by
financial services, and a manufacturing industry that specializes in
high-technology, knowledge-based production. Its economic and political
stability, transparent legal system, exceptional infrastructure, efficient
capital markets, and low corporate tax rates also make Switzerland one of the
world's most competitive economies.
The Swiss
have brought their economic practices largely into conformity with the EU's to
enhance their international competitiveness, but some trade protectionism
remains, particularly for its small agricultural sector. The fate of the Swiss
economy is tightly linked to that of its neighbors in the euro zone, which
purchases half of Swiss exports. The global financial crisis of 2008 and
resulting economic downturn in 2009 stalled demand for Swiss exports and put
Switzerland into a recession. During this period, the Swiss National Bank (SNB)
implemented a zero-interest rate policy to boost the economy, as well as to
prevent appreciation of the franc, and Switzerland's economy began to recover
in 2010.
The
sovereign debt crises unfolding in neighboring euro-zone countries, however, coupled
with ongoing economic instability in Russia and other eastern European
economies continue to pose a significant risk to the Swiss economy, driving up
demand for the Swiss franc by investors seeking a safe-haven currency. In
January 2015, the SNB abandoned the Swiss franc’s peg to the Euro, roiling
global currency markets and making active SNB intervention a necessary hallmark
of present-day Swiss monetary policy. The independent SNB has upheld its zero
interest rate policy and conducted major market interventions to prevent
further appreciation of the Swiss franc, but parliamentarians have urged it to
do more to weaken the currency. The franc's strength has made Swiss exports
less competitive and weakened the country's growth outlook; GDP growth fell
below 2% per year from 2011-14.
In recent
years, Switzerland has responded to increasing pressure from neighboring
countries and trading partners to reform its banking secrecy laws, by agreeing
to conform to OECD regulations on administrative assistance in tax matters,
including tax evasion. The Swiss government has also renegotiated its double
taxation agreements with numerous countries, including the US, to incorporate
OECD standards, and is openly considering the possibility of imposing taxes on
bank deposits held by foreigners.
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Source
: CIA |
DIACORE INTERNATIONAL LTD
Operating address:
c/o BLUE
ROCK ADVISORS SA
Voie-des-Traz 20
Case postale 106
1215
Genève/GE
Switzerland/CH
Telephone: 022
5911110
Web site: http://www.diacore.com
E-mail: diacor.reception@diacore.com
WIN Worldbox No.: CH0009072328
Line of Business: Commercial
services
Industry Division: Services
Industry-code (NACE): 8299 Other business support service activities
n.e.c.
Banks: unknown
Coverage: Company
Employees: 1-9
Diacore is a multinational company with interest
ranging from manufacturing to retail of Diamonds. Specialising in the creation
of large, fancy coloured and rare stones, the Group supports a wide spectrum of
products and focuses on long term relationship with its clients. The Group was
founded 1938, has about 500 employees, 10 offices and manufacturing facilities
in Botswana, South Africa, Namibia and New York.
Information on property ownership was not
available.
Registration: The
company is not recorded in the Company Register.
Legal form: Branch
of foreign company
Legal status: active
It is believed that the company has no
investments.
Balance sheet publication:
The subject company does not publish balance
sheet or turnover figures.
Official bankruptcy reports:
No bankruptcy publications available on the
subject.
An updated legal action check is only available
against proof of interest. e.g. a copy of an enquiry letter, and order or
invoice relating to the subject company.
The company is not listed in the WorldCompliance
database.
Payment experiences from pre-legal collection
cases:
No payment experiences from pre-legal collection
cases are available.
Payment experiences from collection cases:
No payment experiences from legal collection
cases are available.
Mode of payment / Business conduct:
There are no complaints about the mode of
payment and the business conduct.
The phone is answered by Blue Rock Advisors SA.
This company represents Diacore International Ltd. Switzerland. Further
information on the background of the company were not give by the party
answering our call. We have checked several company registers abroad for the
given company name. Finally it was not possible to find out, where the company
is registered.
Financial Statements: The
company does not disclose any financial statements. Third parties are not
permitted any insight into the financial affairs. It is therefore difficult to
make a proper assessment of the actual situation.
Financial Situation: The
financial situation is difficult to assess.
Credit Opinion: In
advancing credit it is advised that a bank guarantee be obtained.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.42 |
|
|
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.72.14 |
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CHF |
1 |
Rs.66.84 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
ANK |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment record
(10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.